Plimoth Trust Co. LLC Buys 75 Shares of Eaton Corporation, PLC (NYSE:ETN)

Plimoth Trust Co. LLC boosted its stake in shares of Eaton Corporation, PLC (NYSE:ETN) by 0.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,583 shares of the industrial products company’s stock after buying an additional 75 shares during the period. Plimoth Trust Co. LLC’s holdings in Eaton were worth $3,149,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Capital A Wealth Management LLC purchased a new position in Eaton in the fourth quarter worth about $26,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Eaton during the fourth quarter valued at approximately $27,000. Noble Wealth Management PBC bought a new stake in shares of Eaton during the fourth quarter valued at approximately $30,000. Murphy & Mullick Capital Management Corp purchased a new position in Eaton in the 4th quarter worth approximately $33,000. Finally, Vermillion Wealth Management Inc. purchased a new position in Eaton in the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 82.97% of the company’s stock.

Eaton Stock Performance

Shares of NYSE ETN opened at $333.92 on Thursday. Eaton Corporation, PLC has a 12-month low of $231.85 and a 12-month high of $379.99. The firm has a market capitalization of $130.66 billion, a price-to-earnings ratio of 33.70, a price-to-earnings-growth ratio of 2.56 and a beta of 1.16. The company has a current ratio of 1.31, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. The firm has a 50 day moving average of $308.45 and a 200 day moving average of $314.22.

Eaton (NYSE:ETN) last issued its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.70 by $0.02. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The firm had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter in the previous year, the firm posted $2.40 EPS. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, research analysts anticipate that Eaton Corporation, PLC will post 12.02 earnings per share for the current year.

Eaton Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date was Monday, May 5th. Eaton’s payout ratio is 41.98%.

Analyst Ratings Changes

Several analysts have commented on the company. Citigroup increased their target price on Eaton from $323.00 to $351.00 and gave the company a “buy” rating in a research note on Monday, May 5th. Morgan Stanley dropped their price objective on Eaton from $385.00 to $375.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Barclays lifted their price objective on Eaton from $306.00 to $323.00 and gave the stock an “equal weight” rating in a report on Monday, June 9th. Wells Fargo & Company restated an “overweight” rating and set a $355.00 target price on shares of Eaton in a research note on Monday, May 5th. Finally, KeyCorp raised their price target on shares of Eaton from $325.00 to $355.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $368.78.

Insider Transactions at Eaton

In related news, insider Craig Arnold sold 51,054 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $305.43, for a total value of $15,593,423.22. Following the completion of the sale, the insider now directly owns 489,444 shares of the company’s stock, valued at approximately $149,490,880.92. This represents a 9.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael Yelton sold 2,120 shares of Eaton stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the transaction, the insider now directly owns 3,382 shares in the company, valued at $1,004,014.34. This represents a 38.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 156,660 shares of company stock valued at $49,622,894 over the last quarter. 0.30% of the stock is currently owned by company insiders.

Eaton Company Profile

Eaton Corporation plc operates as a power management company worldwide. The company’s Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.